The OEM said the 21 percent declining figure for 3Q2015 compared with the same quarter of 2014 was owed to “expected declines in revenues from legacy consumer inkjet printer cartridge sales”.
Kodak posted revenues of $446 million (€403 million) for the quarter, while cash balance came in at $521 million (€471 million), with the company looking to finish 2015 with a cash balance of between $500 million (€452 million) and 600 million (€543 million).
The print systems division, Kodak’s largest, returned 3Q2015 revenues of $278 million (€251 million), down 13 percent compared to last year’s third quarter, while the enterprise inkjet systems division had revenues of $39 million (€35 million), down from $43 million (€38 million) from 3Q2014, although on a constant currency basis revenues were the same.
The PROSPER business grew 27 percent, but was offset by falls in Kodak Versamark printing system sales. Net earnings were registered at $19 million (€17 million), while combined SG&A (Selling, General and Administrative) and R&D expenditure came in at $74 million (€66 million).